Boost Concession Sales via Dynamic Pricing on Digital Signage | Whitepaper
Movie theaters, stadiums, and most entertainment venues make most of their profits from concessions. Can digital signage help boost concession sales?
To give you an idea, more than 82,500 people attended the 2014 Super Bowl at MetLife Stadium, generating $94.60 per attendee in food and beverage revenues.
To boost these revenues even further, concession stands are investing in digital signage.
Entertainment venues can capitalize on potential sales opportunities whenever – as soon as they appear. This is because of the flexibility of digital signage in selling concessions.
Despite the increased adoption of concession digital signage, there are still unexplored opportunities to optimize the financial and experiential benefits.
In this whitepaper, you’ll find a few creative ways that concession stands can capitalize on digital signage to improve their profits and the ROI of the investment.
Sell Specials Based on Trends
With concession digital signage, concession stands can alter their marketing according to current trends.
For instance, if a particular movie becomes very popular during the weekend, the movie theater can quickly create and display an advertisement for a special offer related to the film. For example, a combo of popcorn, a drink in a collectible cup and a figurine or toy. The natural reaction will be for kids to whine until their parents give in and buy the combo. Which boosts revenues for the theater.
Theaters with static signage can also promote movie-themed cups, toys and other items. The catch, they can’t quickly adjust which movie-themed purchases they’re promoting based on current demand.
For concession stands, this alone can be a very rewarding benefit of digital signage, and improve the ROI of the investment.
According to The Hollywood Reporter, themed packaging can increase sales by 15%.
The markup for themed items is pretty attractive too. The themed combos cost theaters around $1.50 and retail for as much as $7.95.
With such significant markups, even a small bump in sales due to promotion on digital displays can result in sizeable revenue boosts.
For more creative ways on applying dynamic pricing to boost revenues and profits, download our whitepaper.